News-Releases
News Releases

Aldridge Minerals Announces Drilling Results on Yenipazar Project

10/12/2010

TORONTO, October 12, 2010 - Aldridge Minerals Inc. (TSX-V: AGM) ("Aldridge" or the "Company") is pleased to announce the results of its recently completed Reverse Circular infill drilling program on the Yenipazar Au-Ag-Cu-Pb-Zn Volcanogenic Massive Sulphide deposit in central Turkey. This program was designed to convert the currently inferred resources, 3.15 Mt in the southern part of the deposit, to indicated resources. Mineralization here is generally of lower grade than in the central and northern parts, but has yielded some very good intersections described below. Mineralization appears near-horizontal in this area, and the intersections should represent approximately true thickness.
“These positive results continue to validate the potential of our project,” said Jacob Willoughby, President Aldridge Minerals. “As we continue to evaluate the results of our drilling program we will provide an updated resource estimate in the fourth quarter.”

Highlights:

  • 34 RC infill holes, totalling 4,358 metres, were all drilled vertically.
  • All holes were drilled in the southern part of the Yenipazar deposit along 6 different east-west lines. Two of the holes were abandoned due to technical problems but were repeated (YP-343B, YP-354B).
  • Each of the 32 holes encountered above background mineralization. On one particular line (Line 4362800), mineralization was shallow in 9 out of 11 holes at between 14 and 100 metres depth.
  • The best 14 holes are listed in the table below. The best intersection was in hole YP-343B, which cut 34 metres of grading 1.28 g/t gold, 35.67 g/t silver, 0.29% copper, 1.89% lead and 2.92% zinc beginning at a depth of 60 metres. 
  • Seven holes were drilled along Line 4362880. Mineralization was commonly observed between 50 and 120 meter depth of all holes but only 1 interval (82-84m) is above the NSR cut-off value of 15 US$/m. This was expected as the adjacent line to the north exhibited similar mineralization.
  • Representative material from 5 large diameter (8.5 cm) PQ holes was drilled for metallurgical testing. Assay results are pending and anticipated in Q4.

Intersection Summary

Hole From (m) To
(m)
Length
(m)
Au g/t Ag g/t Cu % Pb% Zn%
YP-343B 26 38 12 0.18 21.77 0.12 0.66 0.25
  60 94 34 1.28 35.67 0.29 1.89 2.92
YP-344 40 62 22 2.29 26.15 0.11 0.25 0.63
INCLUDING 40 44 4 11.24 97.00 0.21 0.48 0.30
  124 134 10 0.41 25.42 0.12 0.91 1.67
YP-338 48 74 26 0.63 31.86 0.19 0.91 1.23
Hole From (m) To
(m)
Length
(m)
Au g/t Ag g/t Cu % Pb% Zn%
YP-339 38 68 30 0.48 32.09 0.08 0.98 1.24
YP-354B 46 74 28 0.02 1.20 0.04 0.04 1.18
YP-348 42 60 18 0.07 4.86 0.67 0.08 0.15
YP-341 36 84 48 0.05 6.35 0.04 0.19 0.71
YP-342 48 98 50 0.44 5.23 0.20 0.14 0.44
INCLUDING 86 98 12 1.57 10.15 0.62 0.19 0.42
YP-326 46 72 26 0.04 5.65 0.13 0.18 0.42
YP-343 44 52 8 0.65 36.99 0.24 1.50 1.30
YP-347 136 146 10 0.06 11.60 0.04 0.37 0.83
  158 172 14 0.10 14.77 0.04 0.43 0.88
YP-325 62 72 10 0.13 9.56 0.05 0.35 1.16
YP-356 14 22 8 0.05 1.75 0.19 0.02 0.97
YP-346 14 22 8 0.25 10.50 0.22 0.08 0.56

To view an up-to-date map of the infill drilling program in the southern part of the Yenipazar Project, click here: http://files.newswire.ca/899/Aldridge_drill_map.pdf
A NI 43-101 Compliant Report entitled “Technical Report and Updated Resource Estimate on the Yenipazar Base Metal Deposit Turkey” prepared as at Aug. 27, 2008 is available on SEDAR.
The Yenipazar project is subject to an earn-in agreement with Anatolia Minerals, wherein Aldridge can earn a 100% working interest, subject to a 6 % net proceeds interest (“NPI”, revenues less operational cost) until revenues of US$ 165 million are generated, and 10 % NPI from there on.

 Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as defined in NI 43-101, has reviewed and verified the technical content of this press release.

About Aldridge Minerals

Aldridge Minerals Inc. is mainly focused on mineral opportunities in Turkey where the Company is conducting an ambitious exploration and development program at its flagship Yenipazar polymetallic VMS project. Aldridge has also identified several other prospective opportunities in Turkey as well as Papua New Guinea, where the company has amassed a large property position with a systematic exploration program currently being conducted.

Forward-Looking Statements:

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections.

 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 For further information: Aldridge Minerals Inc., Jacob Willoughby, President and Director, (416) 558-4717, www.aldridgeminerals.com; The Equicom Group Inc., Patrick Piette, (416) 815 0700 x 267 or Dave Feick, (403) 218-2839, www.equicomgroup.com

TSX-V: AGM 0.19 +0.00 +0% Volume: 10,000 May 25, 2017

Downloads

Date Download
November 29, 2016 Financial Statements - Q4 2016 699 KB
November 29, 2016 Q4 2016 MD&A 826 KB
June 11, 2012 Yenipazar Plan Map 1.21 MB
March 22, 2012 Corporate Presentation 1.34 MB